Wealthfront Advisers LLC Has $20.56 Million Holdings in Arista Networks, Inc. $ANET

Wealthfront Advisers LLC grew its holdings in Arista Networks, Inc. (NYSE:ANET) by 3.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 141,131 shares of the technology company’s stock after purchasing an additional 5,225 shares during the quarter. Wealthfront Advisers LLC’s holdings in Arista Networks were worth $20,564,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Bryce Point Capital LLC bought a new stake in Arista Networks in the 3rd quarter valued at $597,000. Proactive Wealth Strategies LLC grew its stake in shares of Arista Networks by 1.2% in the 3rd quarter. Proactive Wealth Strategies LLC now owns 10,880 shares of the technology company’s stock valued at $1,585,000 after purchasing an additional 130 shares during the period. Linden Thomas Advisory Services LLC grew its position in Arista Networks by 3.7% in the third quarter. Linden Thomas Advisory Services LLC now owns 84,316 shares of the technology company’s stock valued at $12,286,000 after acquiring an additional 2,996 shares during the period. Western Wealth Management LLC grew its holdings in shares of Arista Networks by 5.9% in the 3rd quarter. Western Wealth Management LLC now owns 15,593 shares of the technology company’s stock worth $2,272,000 after purchasing an additional 869 shares during the last quarter. Finally, Legacy Financial Strategies LLC bought a new stake in Arista Networks during the third quarter worth about $272,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Buying and Selling

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $140.43, for a total value of $1,123,440.00. Following the sale, the director owned 9,784 shares in the company, valued at $1,373,967.12. This represents a 44.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kenneth Duda sold 30,000 shares of the stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $123.16, for a total value of $3,694,800.00. Following the completion of the sale, the insider owned 12,976 shares in the company, valued at approximately $1,598,124.16. This trade represents a 69.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 216,464 shares of company stock worth $27,553,548. Insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

Shares of NYSE ANET opened at $141.79 on Tuesday. The stock has a market capitalization of $178.55 billion, a price-to-earnings ratio of 53.91, a PEG ratio of 2.32 and a beta of 1.42. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $164.94. The business has a 50-day moving average of $132.06 and a 200-day moving average of $136.47.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ANET. Rosenblatt Securities restated a “neutral” rating and set a $140.00 target price on shares of Arista Networks in a report on Monday, November 24th. Weiss Ratings restated a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 29th. Morgan Stanley cut their target price on Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 17th. UBS Group reiterated a “buy” rating and issued a $155.00 target price on shares of Arista Networks in a report on Wednesday, December 3rd. Finally, Erste Group Bank lowered Arista Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. Seventeen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and a consensus price target of $164.44.

Arista Networks Company Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.